Oncology Institute (NASDAQ:TOI) Major Shareholder Acquires $767,960.00 in Stock

The Oncology Institute, Inc. (NASDAQ:TOI) major shareholder Jorey Chernett purchased 263,000 shares of Oncology Institute stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average cost of $2.92 per share, for a total transaction of $767,960.00. Following the completion of the purchase, the insider owned 10,115,944 shares of the company’s stock, valued at $29,538,556.48. This trade represents a 2.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Jorey Chernett also recently made the following trade(s):

• On Tuesday, March 17th, Jorey Chernett acquired 75,000 shares of Oncology Institute stock. The stock was purchased at an average price of $3.42 per share, with a total value of $256,500.00.
• On Monday, March 16th, Jorey Chernett acquired 60,985 shares of Oncology Institute stock. The shares were purchased at an average cost of $3.29 per share, with a total value of $200,640.65.

Oncology Institute Stock Up 5.3%

Shares of TOI stock traded up $0.18 during mid-day trading on Tuesday, reaching $3.59. 4,278,865 shares of the company’s stock traded hands, compared to its average volume of 2,111,345. The company’s 50-day moving average price is $2.99 and its 200-day moving average price is $3.39. The company has a market cap of $353.18 million, a P/E ratio of -6.41 and a beta of 0.14. The Oncology Institute, Inc. has a 12 month low of $0.65 and a 12 month high of $4.88.

Oncology Institute (NASDAQ:TOI) last issued its quarterly earnings results on Thursday, March 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02. Oncology Institute had a negative net margin of 11.45% and a negative return on equity of 1,527.21%. The company had revenue of $141.96 million during the quarter, compared to analyst estimates of $139.78 million.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. ProShare Advisors LLC bought a new position in shares of Oncology Institute in the second quarter worth approximately $25,000. Kestra Advisory Services LLC purchased a new position in Oncology Institute in the 4th quarter worth approximately $31,000. Police & Firemen s Retirement System of New Jersey purchased a new position in Oncology Institute in the 2nd quarter worth approximately $32,000. Pekin Hardy Strauss Inc. bought a new position in Oncology Institute in the 4th quarter valued at approximately $36,000. Finally, Cetera Investment Advisers lifted its position in Oncology Institute by 35.0% in the 2nd quarter. Cetera Investment Advisers now owns 17,545 shares of the company’s stock valued at $36,000 after acquiring an additional 4,545 shares in the last quarter. 36.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TOI shares. BTIG Research reiterated a “buy” rating and set a $7.00 target price on shares of Oncology Institute in a report on Monday, March 9th. B. Riley Financial upped their price target on Oncology Institute from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oncology Institute in a research report on Wednesday, January 21st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $5.00 target price on shares of Oncology Institute in a report on Monday, March 9th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $7.00.

About Oncology Institute

The Oncology Institute, Inc, an oncology company, provides various medical oncology services in the United States. The company operates through three segments: Dispensary, Patient Services, and Clinical Trials & Other. It offers physician services, in-house infusion and dispensary, clinical trial, radiation, outpatient blood product transfusion, and patient support services, as well as educational seminars, support groups, and counseling services. The company also provides managing clinical trials, palliative care programs, stem cell transplants services, and other care delivery models associated with non-community-based academic and tertiary care settings; and conducts clinical trials for a range of pharmaceutical and medical device companies.